Gartner held a conference call today to discuss the potential Visa reforms. Our main takeaways from the call are: Gartner’s insights into the key Visa reform issues are pretty consistent with our prior comments, Gartner provided its own assessment on the potential impact including an increase in customer costs, and customers were encouraged to get educated on their vendors exposure to the potential visa reform. We note that outside of Cognizant, which is pricing in some level of impact from the potential reforms, our BUY rated names do not have material exposure to the reforms. Our BUY rated names are Accenture, Cognizant, Genpact, EXLService, WNS, and Virtusa.